Gladstone Capital (NASDAQ:GLAD) Hits New 12-Month High – Still a Buy?

Gladstone Capital Co. (NASDAQ:GLAD)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $27.87 and last traded at $27.87, with a volume of 30736 shares traded. The stock had previously closed at $27.29.

Wall Street Analysts Forecast Growth

Separately, B. Riley assumed coverage on shares of Gladstone Capital in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $23.00 price objective for the company.

Gladstone Capital Stock Performance

The business has a 50-day simple moving average of $24.80 and a 200 day simple moving average of $23.61. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.04 and a quick ratio of 0.04. The firm has a market cap of $617.87 million, a PE ratio of 7.28 and a beta of 1.25.

Gladstone Capital Increases Dividend

The company also recently announced a dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.40 dividend. This is a positive change from Gladstone Capital’s previous dividend of $0.17. The ex-dividend date of this dividend is Wednesday, December 4th. Gladstone Capital’s dividend payout ratio is currently 52.11%.

Hedge Funds Weigh In On Gladstone Capital

Several large investors have recently added to or reduced their stakes in GLAD. Legacy Capital Wealth Partners LLC bought a new stake in shares of Gladstone Capital during the 2nd quarter valued at $1,723,000. International Assets Investment Management LLC increased its stake in Gladstone Capital by 2,305.0% in the 3rd quarter. International Assets Investment Management LLC now owns 384,535 shares of the investment management company’s stock worth $9,248,000 after buying an additional 368,546 shares in the last quarter. Van ECK Associates Corp bought a new stake in Gladstone Capital during the third quarter valued at about $12,287,000. Farther Finance Advisors LLC purchased a new position in shares of Gladstone Capital in the third quarter valued at about $44,000. Finally, nVerses Capital LLC bought a new position in shares of Gladstone Capital in the second quarter worth about $37,000. Hedge funds and other institutional investors own 10.72% of the company’s stock.

Gladstone Capital Company Profile

Gladstone Capital Corporation is a business development company specializing in lower middle market, growth capital, add on acquisitions, change of control, buy & build strategies, debt refinancing, debt investments in senior term loans, revolving loans, secured first and second lien term loans, senior subordinated loans, unitranche loans, junior subordinated loans, and mezzanine loans and equity investments in the form of common stock, preferred stock, limited liability company interests, or warrants.